Enriching the Upper Class/Cheating the Common Man
U.S. Upper Class +$104.5T U.S. Common Man -$90.1T
December 18, 2016
The U.S. Government is colossally enriching the U.S upper class while colossally cheating the U.S. Common Man. The U.S. Government is operating with a corrupt and fraudulent fiscal policy that is a classic Ponzi scheme (USAPonzi) that is overspending on a Cash basis and is dramatically underfunding the future U.S. Government benefit promises to the U.S. Common Man. This fiscal policy has produced The Great Economic Divide! This fiscal policy has Created the Wealth Gap!
This fiscal policy, if continued, will fraudulently borrow an infinite amount of monopoly money (imaginary-counterfeit money) from the future Americans and give it to the current Americans with most of it ending up in the pockets of the U.S. upper class. The U.S. Government has, as of December 18, 2016, simply handed the U.S. upper class $104.5 Trillion that has been borrowed from the future Americans. To give you an idea just how much money that is, I refer you to my commentary How Much Money is 2.5 Trillion Dollars.
|Borrowings from Trust Funds
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|| $5.66 Trillion
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|| $104.5 Trillion
|Total National Assets
Source: www.usdebtclock.org December 18, 2016
The U.S. Government made the decision, in January of 1968 when it adopted the Unified Budget, that it would operate with Cash Accounting rather than the proper GAAP Accounting which means that it ignores the cost of future liabilities and as a result has colossally undertaxed the U.S. upper class and has colossally underfunded the promised U.S. Government benefits.
The U.S. Government has undertaxed the current Americans by $104.5 Trillion (US Unfunded Liabilities (GAAP)) with the U.S. upper class receiving most of the benefit of this undertaxing.
The future benefits have been underfunded by $84.6 Trillion (US Unfunded Future Liabilities) and the U.S. Government has also borrowed and spent the $5.5 Trillion (Borrowings from Trust Funds) that has been paid-in to fund these future benefits that are primarily intended for the U.S. Common Man.
By operating with a dramatically unbalanced budget, the U.S. Government has given the U.S. upper class $104.5 Trillion and short changed the U.S. Common Man by $90.1 Trillion.
And while the U.S. Government is colossally enriching the U.S. upper class and colossally cheating the Common Man, it is also overspending on a cash basis ($19.9 Trillion National Debt) so that it can overpay itself.
U.S. Upper Class +$104.5 Trillion
U.S. Common Man -$90.1 Trillion
U.S. Ruling Class +$19.9 Trillion
Does that seem fair?
The U.S. Government is "Breaking The Golden Rule" by favoring the U.S. upper class and the U.S. ruling class over the U.S. Common Man.
Golden Rule: "do unto others as you would have others do unto you"!
Just how long can the U.S. Government keep on cheating the U.S. Common Man so that they can overpay themselves and colossally enrich their U.S. upper class friends?
This fraud is explained in CliffsNotes format (USAPonzi CliffsNotes) and is also explained in much more detail on my website www.usaponzi.com and in my book “USAPonzi” which is available on Amazon in Kindle and Paperback formats and on my website in PDF format.
This is the biggest ($104.5 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and it is “The Biggest Ponzi Scheme on the Planet”!